Dalal Street LLC Acquires New Stake in Transocean Ltd. $RIG

Dalal Street LLC acquired a new stake in Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,442,332 shares of the offshore drilling services provider’s stock, valued at approximately $76,260,000. Transocean accounts for approximately 22.6% of Dalal Street LLC’s holdings, making the stock its 3rd biggest holding.

A number of other large investors also recently bought and sold shares of the company. Josh Arnold Investment Consultant LLC purchased a new stake in shares of Transocean in the second quarter valued at about $26,000. Blueshift Asset Management LLC purchased a new position in Transocean during the second quarter worth about $27,000. SBI Securities Co. Ltd. raised its holdings in Transocean by 78.0% during the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 4,700 shares in the last quarter. Benedict Financial Advisors Inc. acquired a new stake in Transocean in the third quarter valued at about $31,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in Transocean in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Transocean from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Susquehanna lifted their price target on Transocean from $6.50 to $7.50 and gave the company a “positive” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a report on Thursday, January 22nd. Barclays cut Transocean from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $4.50 to $6.00 in a research report on Wednesday, February 18th. Finally, Pareto Securities lowered shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 target price on the stock. in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $6.38.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at $1,704,639. The trade was a 22.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keelan Adamson sold 58,687 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the completion of the sale, the chief executive officer directly owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,903 shares of company stock worth $906,098 in the last three months. 12.54% of the stock is owned by corporate insiders.

Transocean Price Performance

Shares of NYSE:RIG opened at $5.93 on Monday. The business’s 50 day simple moving average is $5.21 and its 200-day simple moving average is $4.21. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of -1.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.56 and a quick ratio of 1.27. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.96.

Transocean (NYSE:RIG) last released its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. As a group, equities analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.